On Monday, President Donald Trump announced that the U.S. and Iran have signed a preliminary agreement aimed at ending months of conflict. Still, major questions about the deal's final terms and long-term viability remain unresolved.

Stocks Dip, Crude Oil Advances

Dow futures slipped 7.00 points, or 0.01%, to 51,735.00, while S&P 500 futures fell 10.75 points, or 0.14%, to 7,550.50 and Nasdaq 100 futures declined 87.25 points, or 0.29%, to 30,472.00 as of around 9:00 p.m. EDT.

In commodities, WTI crude oil rose 0.67% to $81.29 per barrel, while Brent crude gained 0.58% to $83.65 per barrel. Natural gas futures edged up 0.16% to $3.152 per MMBtu.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 99.634, down 0.03%.

Asian markets were mixed, with South Korea's KOSPI advancing 1.02% to 8,633.03, while Japan's Nikkei 225 slipped 0.06% to 69,277.25.

Trump Announces Preliminary Iran Agreement

Speaking after arriving in France for the G7 summit, Trump said that "the deal's all signed" and said Vice President JD Vance would attend a formal signing ceremony in Geneva later this week, Reuters reported.

The agreement extends a fragile ceasefire first announced in April and is expected to reopen the Strait of Hormuz, a critical shipping route that handles a significant share of global oil exports.

However, both Washington and Tehran stressed that a permanent peace accord has not yet been negotiated. Iranian President Masoud Pezeshkian described the memorandum of understanding as an "important step" but said a lasting truce "has yet to take shape."

Vance told CNN the signed document is only about "a page and a half" long and remains a broad framework rather than a detailed settlement.

Sanctions Relief, Nuclear Program And Economic Stakes

Officials from both countries said the framework could unlock major economic benefits for Iran, including sanctions relief, the release of frozen overseas assets and a $300 billion reconstruction initiative funded by Gulf states that host U.S. military bases, the report said.

On Truth Social, Trump also pushed back against reports that the U.S. would directly fund Iran. "Iran has agreed to never have a Nuclear Weapon! Also, the story that the U.S. is paying Iran 300 million Dollars is Fake News."

Despite the announcement, key issues remain unresolved, including the future of Iran's enriched uranium stockpile and the scope of any final nuclear restrictions.

Israel Raises Concerns Over Trump-Iran Agreement

Meanwhile, Israeli Prime Minister Benjamin Netanyahu signaled continued disagreement with parts of the arrangement, saying Israel would maintain forces in southern Lebanon and retain the right to respond to Hezbollah attacks.

A senior Israeli official told Reuters that the deal was "terrible for Israel," adding that opposition to it was widespread throughout Netanyahu's government.